Shoppers Stop Ltd’s recovery has been relatively slower than other retailers. One reason for this is the company’s higher presence in shopping malls, where footfalls fell due to the pandemic-induced restrictions.

Of the 84 department stores, 73 are in malls while the rest are standalone.Understandably, Shoppers Stop’s shares reflect business conditions.

The stock has almost halved from its pre-covid highs seen in early 2020.March quarter results announced on late on Friday show a sustained recovery in revenue performance.

Shoppers Stop’s reported revenues last quarter declined 5.4% year-on-year to Rs671 crore. This is the best revenue performance in the financial year 2021.

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